Entrepreneurs having big visions and dreams are looking for ways to make them happen but don’t know how to do it. For successfully running a startup, an entrepreneur needs a positive mindset and a huge responsibility. However, the major problem of every entrepreneur is that they are inexperienced when they start a business. And it is found that 90% of Indian startups fail within the first 5 years, mostly because of inexperienced founders. There is only one way to overcome inexperience quickly and that is by engaging in an advisor program or mentorship.
Startup mentors are extremely critical but how do you go finding them. Do not look for a mentor but mentors who are experts in different fields. Cause a single mentor cannot solve all of your problems. You’ll need one mentor for handling finance, one for personal guidance, one for startups and so on.
Now the question comes – There are many business mentors in India but how can you find the right mentor for your startup in India? So, I have prepared a list of places where you can find a mentor but before that let me tell you the key traits of a perfect business or startup mentor.
Key Traits of a Perfect Mentor
How to Find a Perfect Mentor for Your Startup or Business?
Key Traits of a Perfect Mentor
Mentorship is an important factor that shows the way for startups to reach heights. A perfect mentor provides tried and tested ideas, fills your knowledge gap, and helps to reach your goals with less stress.
There are so many important factors to the success of a business. It includes the cohesive force of your employees, the timing of the company, the strength of the idea, the cumulative experience of the team, the entrepreneurial experience of the person in charge, etc. Startup mentors help to maintain focus on business problems. Also, they provide alternative solutions to the problems.
Given below are some of the important traits of a perfect startup mentor.
1. Problem Solver
Entrepreneurs face so many problems while starting a business. So it is important to find a business mentor who could provide a solution to your problem besides being able to reduce the pool of difficulties. A mentor can help an entrepreneur to create a better business by overcoming the barriers. They help you to understand the different possible pain points of the startup.
2. Knowledgeable
A perfect mentor must be aware of the industry to which the startup belongs. An entrepreneur can overcome all difficulties if they have a mentor who gives advice and generic ideas. So getting a mentor from the same industry is more suitable. They can help you to learn the different nature of the market, the complexities of the business, the processes, and the novelty.
3. Strong Networking
A good mentor should succeed in maintaining a strong network of appropriate people in the startup ecosystem. Being a mentor with good connections in the industry gives you the ability to work without interruption. For example, investors are more likely to invest in your startup if their inner circle of network mentions them. A smart mentor helps you to get customer trials, potential investors and customers, strategic engagements, etc.
4. Entrepreneurship
A mentor, who has gone through the same processes of creating a startup and leading it to success, knows all the entrepreneurial activities required. They are validating your startup idea and leading the company into profitability. A mentor with an entrepreneurial background can help you to avoid barriers and identify all the possible options to prevent the problems.
making a successful business is having a good mentor for your business. Finding
the right mentor can sometimes be difficult, especially for new entrepreneurs,
if they are trying to do it alone. No matter how resourceful an …
Piyush Mishra
How to Find a Perfect Mentor for Your Startup or Business?
Finding the right startup mentor is hard, but not impossible. A right mentor is a fundamental factor for having a successful startup. As an entrepreneur, mentorship is an important resource for growth. Some of the places for finding a perfect mentor are given below.
Social Media platforms
Social media is another good platform for finding perfect mentors for your startup. You can search for mentors through professional platforms like LinkedIn and public platforms like Twitter. There you can find professionals according to your requirements by using keywords for searching.
A good alternative to LinkedIn is the Intch app, where you can post your request to find a mentor and AI will match you with the right person. The Intch community mostly consists of startup founders, so it’s easy to discuss your idea, get advice and find first clients here.
One can determine the reputation of a person and their willingness to talk with others by monitoring the engagement level and followers. Firstly, get to know your hoped-for mentor instead of going with an outright request. Also, try to offer something of value to start the relationship.
Online Mentorship Networks
There are so many online programs dedicated to pairing potential mentors with professionals. MentorKart is an online mentorship network that connects the mentors and mentees who look for professional guidance. With typically a small or no cost, you can sign up and find upcoming advisors in your area of expertise. Also, you can chat with them or meet in person to start a partnership.
Small Business Development Centers
Small Business Development Centers are independent organizations that offer advice, expertise, and resources for emerging entrepreneurs across the country. You can find free consultation from small business development centers by using state and local government funds, Small Business Administration federal funds, and resources from the private sector.
Volunteer Events
Volunteer events are another good place for meeting people. You can meet like-minded professionals. They may be looking for ways to use their knowledge and experience. You can use the online platform named Volunteer Match to get volunteering opportunities in your city. You can find opportunities as per your interests. Attending these volunteer events helps you build contacts in the industry.
Industry Meetups
Industry meetups are the best place for finding mentorship in a specific industry sector. These events include networking events, conferences, speaking events, informal meetups, and trade shows. It can be advertised through meetups or classified ads.
Score
SCORE is an organization that works for helping individuals begin, run and grow their own businesses. Currently, there are more than 11,000 volunteers included in the program along with 320 chapters across the country. An entrepreneur can request a free face-to-face meeting with a mentor to discuss the business idea and also be able to create a more lasting partnership with them.
Social Media platforms
Social media is another good platform for finding perfect mentors for your startup. You can search for mentors through professional platforms like LinkedIn and public platforms like Twitter. There you can find professionals according to your requirements by using keywords for searching.
One can determine the reputation of a person and their willingness to talk with others by monitoring the engagement level and followers. Firstly, get to know your hoped-for mentor instead of going with an outright request. Also, try to offer something of value to start the relationship.
Fitness Classes & Groups
Business-minded people usually like to spend their time hitting the gym to relieve stress and maintain health. You can frequently find them in fitness-related groups and fitness classes. This could be a good platform to connect with people, get to know them and their businesses. Who knows, maybe you will end up finding a perfect mentor for your startup.
Networking Events
Networking events are designed to make connections by bringing together groups of professionals. Try to talk to as many people as you can through these events and don’t be too direct with your goals. Business leaders look for new contacts as they can be prospective partners, employees, or clients in the future. They attend these networking events to meet professionals in many various fields and expand their personal network.
Friends and Family
It is inevitable to say that you can find a perfect startup mentor only at the above-mentioned places. You could potentially find them anywhere and anytime. Talk to people, your acquaintances, family, friends, or even strangers. You never know who could help you to choose the right path. Maybe the people are present in your surrounding but you’re looking somewhere else for them.
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Alan Joseph
Conclusion
We all want to lean on somebody, someone who can guide us shows us the right path when we are unable to see it clearly, help us grow, and be a torchbearer for our business or career or life for that matter.
People are lucky who have mentors in their life, a person who constantly pushes them when they are distracted shows them the light when they’re in dark, and always remain by their side.
Be it business or career or life, having the right mentor is very much helpful to sustain in this competitive world. A mentor is an experienced person and wise enough to calculate the risk while taking decisions.
FAQ
How to find a business mentor?
Find a mentor match on Ten Thousand Coffees, Meet experienced entrepreneurs at Meetups, Hop on a Clarity call, Ask around in forums and online communities, Connect with potential mentors on LinkedIn, and Form a Mastermind Group.
Who are some of the best business mentors in india?
Gururaja, Vijay Johar, Anand G Pai, and Dr Hemalatha. J.N are some of the leading business mentors in India.
How much should you pay a mentor?
Sessions (virtual, telephone, or in-person if the expert agrees) start at $50 an hour, though a quick look at the site tells us that many folks charge more than $100 an hour.
Is a business mentor worth it?
The long-term cost of not finding a good mentor far outweighs any short-term costs. Mentors can help you to become the best possible version of yourself. They can also guide you through difficult patches when you’re struggling to make decisions or lacking the experience to know in which direction to take your company.
Who is a good mentor?
A good mentor is someone who can guide you when you deviate from your path. They take in what’s happening, assess the path the mentee is on, and then guide the person onto the right track. Mentoring is as much about counseling as it is transferring knowledge and leadership skills.
